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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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This Walk in the Park Could Save Your Life

Category : Stocks, World News

Jodi’s Race for Awareness About Ovarian Cancer Set for Saturday, June 1 in Denver’s City Park

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This Walk in the Park Could Save Your Life

Category : Stocks, World News

Jodi’s Race for Awareness About Ovarian Cancer Set for Saturday, June 1 in Denver’s City Park

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Emergency chief: Detroit ‘insolvent’

Category : Business

The US city of Detroit is “clearly insolvent”, emergency manager Kevyn Orr says in his first review of the city’s finances.

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International City Bank (Long Beach, CA) (ILCY: Grey Market) | Symbol Change

Category : World News

Fri, May 10, 2013 12:00 – International City Bank (Long Beach, CA) (ILCY: Grey Market) – Symbol Change – The symbol, ILCY, is no longer a valid symbol for International City Bank (Long Beach, CA). As of Fri, May 10, 2013, the new trading symbol is ILCN. You may find a complete list of symbol changes at otcmarkets.com.

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Which cities do the world’s millonaires and billionaires live in?

Category : Business

Twenty cities have more than 100,000 millionaires – but which has most? And where do the world’s billionaires live?
Millionaires | Multi-millionaires | Billionaires | Country
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Where do the world’s wealthiest individuals live? Well, it depends if you’re talking millionaires, multi-millionaires or billionaires, according to a new list of the global rich.

Tokyo may contain the most millionaires (US$), however London is the city with the highest number of multi-millionaires – defined as individuals with over $30m each. For the fattest of the fat cats, though, look to New York where 70 billionaires have made their home – or maybe one of their many global homes.

The ranking of top global cities for millionaires, multi-millionaires and billionaires has been compiled by London based wealth consultancy WealthInsight using five years of data analysed by their team. So what insights can we glean from this latest rich list?

Millionaires

Tokyo tops the list with 461,000 millionaires at the end of 2012, followed by New York City with 389,000. London and Paris take third and fourth place respectively with Frankfurt, Beijing, Osaka, Hong Kong and Shanghai making up the the remainder of the top ten. Interestingly the second highest city for billionaires, Moscow, comes in 20th for its number of millionaires.

The report also looks at the proportion of each country’s millionaires in each city. Tokyo accounts for 21% of Japan’s millionaires whereas New York City accounts for only 7% of US millionaires. Cities with much higher proportions include Seoul (83%), Rome (49%) and London (42%).

Multi-millionaires

Now for the big players, those individuals with over $30m each. London is top of the list as the city with the most multi-millionaires (4,224) but Tokyo and Singapore follow in second and third place respectively.

New York makes an appearance at fourth place on the rankings – but if you’re surprised by the Big Apple’s slip down the rich list, WealthInsight do point out that ‘many wealthy New Yorkers live off the Island in cities such as Greenwich which has over 350 multi-millionaires on its own’.

Billionaires

New York (Manhattan) contains the most billionaires according to the release with 70 in the city. Moscow has 64 billionaires and London boasts 54.

Moscow, Mumbai and Istanbul are significantly higher on the billionaire list than they are on the millionaire rankings. Moscow which is ranked 20th for millionaires and is absent from the top 20 cities for multi-millionaires, comes in at third place on the billionaires list.

Hong Kong, Beijing, Mumbai, Istanbul, Shanghai, Paris and Los Angeles all make it into the top ten.

Country

Despite Tokyo topping the list as the city with the highest total of millionaires, when it comes to country level the US boasts the most with 5,231 in 2012 – a figure WealthInsight expects to jump to 7,318 by 2020.

But the country to watch according to the wealth consultancy is China. They predict that it will overtake Japan and Germany to become the second largest wealth market in the world by 2020. India is also expected to rise up the rankings, from 11th place in 2012 to 5th place in 2020.

The tables below show the top ten cities for millionaires, multi-millionaires and billionaires. The downloadable spreadsheet contains data at country level and the proportion of country’s millionaires in each city. What can you do with this?

Data summary

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DATA: download the full spreadsheet

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There’s nothing wrong with low-carbon policy that strong government can’t fix

Category : Business

Apocalyptic predictions are circulating about the size of electricity bills in 2030 if the move to green power goes ahead. There is no need for them to come true

The UK’s energy policy is not “plausible” and a “crisis” is inevitable. That is the view of Peter Atherton, a respected utilities analyst who works for Liberum Capital, an investment bank in the City.

Atherton is convinced that successive UK governments have grossly underestimated the engineering, financial and economic challenges posed by the planned move from a high-carbon electricity sector to a low-carbon one.

He believes that the cost of switching from largely coal- and gas-fired power stations to a mix of gas-, wind- and nuclear-generated electricity will cost more than £160bn by 2020 and more than £375bn 10 years later. He warns that it means “electricity bills rising by at least 30% by 2020 and 100% by 2030 in real terms.”

That would be political dynamite and Atherton knows it. He predicts that there will be three groups of “casualties”: the government, consumers and investors.

This apocalyptic scenario – contained in an investment note issued last week – will warm the hearts of many in the City (and possibly some in the Treasury) who believe the green agenda is a giant waste of money.

It will alarm the wider community who accept that climate change must be tackled, and those who believe a “carbon bubble” is developing around fossil fuel companies whose assets are overvalued in a world turning away from coal and oil.

And it is clearly at odds with the ideas of ministers such as Ed Davey, the energy secretary, whose Department of Energy and Climate Change (DECC) calculated last month that “household dual fuel bills are estimated to be on average 11% (or £166) less in 2020 than they would be without policies being pursued.” Those figures do, however, involve some heroic assumptions about energy-efficiency measures being

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Referee punched in face by teen player dies – CNN

Category : Stocks


New York Daily News
Referee punched in face by teen player dies
CNN
(CNN) — A referee for a recreational soccer league has died after he was punched in the face by a teenage player who didn't like his decision, Salt Lake City police said. Ricardo Portillo, 46, was refereeing a game in the Salt Lake City suburb of Taylorsville on
Soccer referee punched by player in Utah dies – wistv.com – Columbia, South WIS

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Yeung loses bid to stop HK trial

Category : Business

Birmingham City football club owner Carson Yeung fails in his final attempt to have a Hong Kong trial accusing him of money-laundering thrown out.

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Welby raps City ‘entitlement’ ethos

Category : Business, World News

The City of London has been affected by a “culture of entitlement”, the new Archbishop of Canterbury Justin Welby says.

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Canadian Armed Forces Commemorate the Battle of York

Category : World News

OTTAWA, ONTARIO–(Marketwired – April 27, 2013) - The Canadian Armed Forces together with the City of Toronto marked the 200th Anniversary of the Battle of York today, with events downtown and along the waterfront.

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